Genesis Energy is a New Zealand electricity generator and retailer. If you want to invest in Genesis Energy, shares in the company (GNE) can be traded on the NZX.
Keep reading to find out what you need to do to buy GNE shares.
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Genesis Energy was formed in 1999 when the Electricity Corporation of New Zealand was split into separate entities. Today, it is New Zealand’s largest energy retailer and services approximately 500,000 customers, selling electricity, reticulated natural gas and LPG via its Genesis Energy and Energy Online brands.
Genesis Energy generates electricity from Huntly Power Station, Tongariro Power Scheme, Waikaremoana Power Scheme, Hau Nui Wind Farm and the Tekapo Power Scheme. It also has a 46% interest in the Kupe Joint Venture behind the Kupe oil and gas field.
The company is listed on both the NZX and ASX. Its majority shareholder is the New Zealand Government, which owns 51% of Genesis Energy.
In its annual report for the 2020 financial year, Genesis Energy reported net profit after tax of $46 million and EBITDAF of $356 million, both of which had decreased compared to the previous year.
Other key figures from the report include a total dividend of 17.20 cents per share, free cash flow of $168 million and revenue of $2.6 billion.
|Name||Genesis Energy Limited||Industry||Electricity Generator & Retailer|
|Type||Ordinary shares||Date listed on NZX||24 Dec 2008|
|End of financial year||June||Chief executive officer||Marc England|
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